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2017-21 help to buy scheme - megathread. All help to buy discussion here please

PedroDublin

Hello everyone, what do you think the purchase date mean on the new help to buy scheme? Contracts signed by buyers, contracts received, mortgage withdrawal, closing date..... I have seen different things on different news

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dowhatyoulove

Can anyone tell me roughly what date in January can you check the HTB scheme to include 2019 taxes? Currently waiting on January to put down a deposit on new build.

Whodanoob

tomister wrote: »

Afraid not. You can only include complete full years and those years must not have any tax outstanding

Thanks for the info Tomister

Billythekid19

joe123 wrote: »

Yeah its still down. Online Chat/email said cancelling and restarting application wont work. On the phone they said it might work.

Ive a feeling they havent a clue and im wondering if it really is down.

If anyone on this thread is able to successfully apply will you update this thread. Signing the contracts is being held up by this now.

site appears to be down tonight, anybody else seeing this?

colly10

Billythekid19 wrote: »

site appears to be down tonight, anybody else seeing this?

Seeing the same tonight

Edit: Tried it a few times & it worked

Verwolff

tomister wrote: »

Provided the developer is registered for the Help to Buy scheme and you are approved for the amount you require then you would pay 12,500 and Revenue will also pay 12,500 upon approving your claim.

In order to avail of Help to Buy you need to first apply for it. To do this your tax needs to be up to date with nothing owed. Then when you are approved, Revenue will outline what is the relief/refund available to you. This is the lower amount of; 5% of the value of the property, your approved relief/refund or €20,000.
Once you’ve approval you will need a counter signed contract and proof of mortgage (letter of offer). You then complete the claim on the website and this is then passed to your developer who verifies it and then Revenue issue the funds to the developer

Just to warn all of you.

I was sure that this works like that up today. Tomorrow, I have meeting with solicitor and surprisingly for me I've got an email today where is clearly stated that I need to pay 10 % of deposit and regardless HTB, which will be claimed back later.

Unfortunately I can't secure missing 5% in one evening. This just unfair

Reading this thread it looks like it happens from time to time to some people depends on Developer. Looks like Revenue is also not helpful at all since they have no means to force the developer accept 5 % only, but have any of you got the same problem and could it sorted out eventually?

I can't give up the purchase because my current accommodation (rented property) will be on sale in January.

Any advice appreciated.

sdssarah

Hmm that doesn't seem right at all, it's not live revenue give YOU the money, they only deal directly with contractors. It sounds unusual to me, but ask your solicitor about it and point to https://www.revenue.ie/en/property/help-to-buy-incentive/how-do-you-apply-for-help-to-buy-htb.aspx

From starting this process, to getting contracts signed and signed by our contractors solicitor (for a new build) the whole process took about 2 months of back and forth with revenue, our solicitor, their solicitors. It's not a quick process not to mention everything will be shut down for Xmas for the next 2 weeks.

We also had a problem because the code generated is based on the tax years so our code expired on Dec 31st, so we did it all and then the contracts weren't signed by their solicitors in time, so we had to reapply in January for HTB to get new codes, it was very stressful.

Have you applied and gotten your HTB codes yet, if so you may have similar issue with expiry.

Sorry I can't help with the 10% thing, but it doesn't sound right at all. Others may have experienced this.

S

awec

There were others back in this thread who had the same issue, their developer insisted on 10% cash and weren't interested in claiming 5% from revenue. Ultimately there is nothing you can do to force the matter except threaten to pull out and hope that they back down.

tomister

Verwolff wrote: »

Just to warn all of you.

I was sure that this works like that up today. Tomorrow, I have meeting with solicitor and surprisingly for me I've got an email today where is clearly stated that I need to pay 10 % of deposit and regardless HTB, which will be claimed back later.

Unfortunately I can't secure missing 5% in one evening. This just unfair

Reading this thread it looks like it happens from time to time to some people depends on Developer. Looks like Revenue is also not helpful at all since they have no means to force the developer accept 5 % only, but have any of you got the same problem and could it sorted out eventually?

I can't give up the purchase because my current accommodation (rented property) will be on sale in January.

Any advice appreciated.

I'd ask the question how you are meant to claim back the 5% on the HTB. This gets paid directly to the developer and there is no option for this to be paid into your bank account.
Is the developer going to refund you this upon approval?
I had a clause in my contract that stated if my claim was rejected then I had 10 days to pay the balance. Could you ask that this be included instead?
Hope it all works out!

asscookies

Hello,

We're actually coming out the other side of this, sold our house that we used the HTB to purchase. Has anybody had to pay the clawback to the revenue? We were hoping to pay it back in increments over a few years as we don't have a lump sum. Didn't make any money from our sale. We weren't happy with what our estate was becoming and we had a long commute that was too much for us. Anyone with any information on paying it back?

Dolbhad

asscookies wrote: »

Hello,

We're actually coming out the other side of this, sold our house that we used the HTB to purchase. Has anybody had to pay the clawback to the revenue? We were hoping to pay it back in increments over a few years as we don't have a lump sum. Didn't make any money from our sale. We weren't happy with what our estate was becoming and we had a long commute that was too much for us. Anyone with any information on paying it back?

Revenue website says you have to notify Revenue that you have ceased to live in the property and you have three months from when you cease living there to pay it back. I presume once stamp duty is paid by the purchasers it notifies revenue of change of ownership.

druss

We moved into our house a few months ago and the HTB scheme helped us over the line.

I had a really dumb moment a few days ago though. I found a stack of invoices in a box from our house moves including health expenses for 2016 and 2017, totted them up and submitted on ROS.

Completely forgot that the cupboard is now completely bare for those years.

[Deleted User]

tolow wrote: »

I’m sure these questions have already been asked at some point in this thread but I might be a while looking back for an answer.

My first question is does it matter if one person has paid more tax over the four years when submitting a joint application? I looked back through my taxes for 2015-2018 and as a single application I have paid almost 20k in income tax whereas my partner was still in college in 2015,2016 and in 2017 and she would have paid very little income tax. Does it matter that the majority of the tax paid was by one person?

My second question is whether any social welfare payments affect an application? My partner was in receipt of Back to Education allowance in 2015, 2016 and 2017.

Final question is if we apply in January and don’t actually end up buying in 2020 can we then re-apply in 2021?

Thanks in advance!

Anyone able to help with these questions? Thanks in advance

fifth

I applied late last year and ended up not using it, so reapplying now for 2020.

As long as the government continue the scheme, you should be able to apply again next year provided you haven't bought yet.

Speaking of, has anyone tried applying for 2020 on revenue online service? I need to submit my tax for 2019 but it's giving me a system error.

colly10

tolow wrote: »

Anyone able to help with these questions? Thanks in advance

First question - it doesn’t matter
Third question - you can reapply

Don’t know the affect of the second

Tasfasdf

When making an offer on a house do you have to tell them that it includes HTB or does that come into it when making offers at all till offer accepted.

sdssarah

Tasfasdf wrote: »

When making an offer on a house do you have to tell them that it includes HTB or does that come into it when making offers at all till offer accepted.

HTB scheme only works on New Builds so there are no "offers" you just sign a contract to pay the full price that the house is listed for.

Tasfasdf

sdssarah wrote: »

HTB scheme only works on New Builds so there are no "offers" you just sign a contract to pay the full price that the house is listed for.

I understood that, you can of course negotiate on price.

sdssarah

Tasfasdf wrote: »

I understood that, you can of course negotiate on price.

I don't really understand - there is no negotiating on prices of new build houses. The only situation where there might be is if you're buying one of the decorated show houses after all of the units are sold.

You either buy the house or don't buy the house at the list price by the developer. There's usually a lot of competiton too so you would want to get your deposit in straight away. Deposit is typically 5k or 10k on the day you choose your unit from the plans. Then you pay the actual deposit after signing the contracts 21 days later (half HTB / half from your pocket).

It isn't like a house with a single seller who is choosing to sell it and can negotiate the price.

Tasfasdf

sdssarah wrote: »

I don't really understand - there is no negotiating on prices of new build houses. The only situation where there might be is if you're buying one of the decorated show houses after all of the units are sold.

You either buy the house or don't buy the house at the list price by the developer. There's usually a lot of competiton too so you would want to get your deposit in straight away. Deposit is typically 5k or 10k on the day you choose your unit from the plans. Then you pay the actual deposit after signing the contracts 21 days later (half HTB / half from your pocket).

It isn't like a house with a single seller who is choosing to sell it and can negotiate the price.

The new builds that I was looking at sold 15k under asking including vat so maybe some do sell under the asking price. does the asking price include HTB if not then you may be right.

awec

Tasfasdf wrote: »

The new builds that I was looking at sold 15k under asking including vat so maybe some do sell under the asking price. does the asking price include HTB if not then you may be right.

How do you know they sold 15 under asking?

Anyway, the price includes HTB money. Generally with new builds unless they have been sitting for a while unsold there will be no negotiation on price.

Tasfasdf

awec wrote: »

How do you know they sold 15 under asking?

Anyway, the price includes HTB money. Generally with new builds unless they have been sitting for a while unsold there will be no negotiation on price.

Daft property price sold listed a few. asking was 299,000 sold between 280 -290k

un5byh7sqpd2x0

Tasfasdf wrote: »

Daft property price sold listed a few. asking was 299,000 sold between 280 -290k

Are you adding VAT ? The only source is the Property Price Register on https://www.propertypriceregister.ie/ - house prices go up (for now) - a house may have sold for 290 a few months ago but the one next door is now listed for 299.

Tasfasdf

Itzel Important Shock wrote: »

Are you adding VAT ? The only source is the Property Price Register on https://www.propertypriceregister.ie/ - house prices go up (for now) - a house may have sold for 290 a few months ago but the one next door is now listed for 299.

Daft add vat as that site dont.

awec

I wouldn’t put too much stock in the daft sold figures to be honest.

But no harm in asking once you don’t take the piss. Unless they are having trouble selling them they’ll say no though.

wirelessdude01

The property price register is a weird one. Some have VAT included, some don't. Depends on the way solicitor presents things. I know of 2 that the price shown definitely excluded VAT but for some reason I cluded the legal fees.

I take the price shown on it as a guide price.

sdssarah

wirelessdude01 wrote: »

The property price register is a weird one. Some have VAT included, some don't. Depends on the way solicitor presents things. I know of 2 that the price shown definitely excluded VAT but for some reason I cluded the legal fees.

I take the price shown on it as a guide price.

Ha! Very different experience for us so, there were queues out the door every day we went to visit the showhouses and very few to choose from - in fact they increased the price about 3 months after we bought our house.

The developers must have overpriced these houses you're looking at if they aren't selling because new builds are particularly attractive to first time buyers with the HTB scheme in place - as they are trying to get out of the crazy rental market.

Yes the price of the house includes HTB (this just covers up to 5% of the price of the house, max 20k) and not everyone can claim the HTB money - not everyone is eligible for the same amount either, it all depends on what income tax you've paid over the last few years, so it differs individual to individual.

dowhatyoulove

Just put down a deposit on a new build - we got on the phase before we thought we’d be able to buy as they had 4 cancellations however they were snapped up within 2 weeks - this was just in last business week of December.

Still waiting for the HTB to include 2019 tax as that’s were the bulk of our deposit is coming from as well. Seems it’s taking ages - Husband was told that his statement should have been done in. Hoping it’ll be soon as we are still waiting for our contracts from developers

fifth

dowhatyoulove wrote: »

Just put down a deposit on a new build - we got on the phase before we thought we’d be able to buy as they had 4 cancellations however they were snapped up within 2 weeks - this was just in last business week of December.

Still waiting for the HTB to include 2019 tax as that’s were the bulk of our deposit is coming from as well. Seems it’s taking ages - Husband was told that his statement should have been done in. Hoping it’ll be soon as we are still waiting for our contracts from developers

Also waiting on this, was supposed to be ready by now but I'm still getting "your statement will be ready shortly". (on revenue.ie)

Tried phoning today but the queues were too long, it's just a busy time of year for them.

[Deleted User]

Anyone having a delay on getting their 2019 statement of liability? I submitted mine a couple of weeks ago and still haven't got anything back. Was hoping to get it asap to apply for HTB.

Motivator

tolow wrote: »

Anyone having a delay on getting their 2019 statement of liability? I submitted mine a couple of weeks ago and still haven't got anything back. Was hoping to get it asap to apply for HTB.

Yes all I’m seeing is “submitted” on the my documents page.

Quick one on the statement of liability - the declaration “tick” box can’t be ticked but my 2019 form is still showing as being submitted. Anyone else have this issue?